Caroline Levitt (4:45)

a survey over the weekend that I'd like to bring to all of your attention. This is the media coverage of the case of Sheridan Gorman. You have ABC News has spent 1 minute and 19 seconds between two days when this case was first alerted. You have CBS 2 minutes in 1 second. You have NBC 23 seconds spent on the life of a young, beautiful American woman whose life was taken short by an illegal alien who should have never been here in the first place. When we are in the middle of a battle on Capitol Hill with a major political party, the Democrat Party, who wants to defund the agency that is responsible for protecting Americans. I think her life was worth more than 23 seconds on cable television. And I think the people in this room have a responsibility to report on cases like this because it just exemplifies why the President believes so strongly in deporting illegal aliens from our communities.

Clay Travis (5:38)

So again, that report, if you sometimes think to yourself, my goodness, why isn't there more outrage over the murder of innocent people by illegal immigrants that should have never been here, particularly those that have been arrested before. It's a lot of people just never hear about it. You hear about it because you listen to this program. But a lot of your friends and family, the kinds of people who showed up at the no Kings Protestant, they don't have any idea because the media is not informing them. It's just not a part of their rotation now. So I wanted to share that with you. I think that's a really good job by Caroline Levitt doing it in a way that directly calls out the media for not making it a part of their coverage. The big story remains what's going to go on with Iran. Here is Caroline Levitt cut 30 on the negotiations with Iran.

Caroline Levitt (6:31)

Anything that they say to us privately will be tested and we will ensure that they are being held accountable to their word. And if they are not, the president has laid out the military consequences that the Iranian regime will see if they don't hold true to the words that we are hearing privately behind the scenes. When the president says more reasonable, again, these folks are appearing more reasonable behind the scenes privately in these conversations than perhaps some of the previous leaders who are now no longer on planet Earth because they lied to the United States and they strung us along in negotiations. And that was unacceptable to the President, which is why many of the previous leaders were killed. So again, this is another historic opportunity for Iran to do the right thing to rid themselves of their nuclear ambitions and to come to a deal with this president and the administration. Or again, they will see the grave consequences of the United States armed forces which they are continuing to see every day throughout this operation.

Clay Travis (7:26)

Okay, so again, a big part of this is figuring out who can we trust and who actually has authority in Iran. And I want to go back to the big Wall Street Journal exclusive report that came out last night saying that there is a consideration of putting so called boots on the ground for a raid to seize all of the uranium that Iran currently has. And we just had to finish off the hour there. A caller saying, hey, do we know where this uranium is? And again, I look at this and I just want to read you what the Wall Street Journal wrote. Teams of us and tell me that this does not sound like a Hollywood or TV script. Teams of US Forces would need to fly to the sites likely under fire from Iranian surface to air missiles and drones. Once on site, combat troops would need to secure perimeters so engineers with excavating equipment could search through debris and check for mines and Booby traps. The extraction of the material would likely need to be conducted by an elite special ops team specially trained to remove radioactive material from a conflict zone. The highly enriched uranium likely contained in 40, 50 special cylinders that resemble scuba tanks. They would need to be put into transportation cast to protect against accidents. They would either need to drive it out in a truck, or they would need to create an airfield nearby. This would be. Now, Iran could agree to hand over this uranium as well, and that seems highly unlikely. And so is it possible? This was a question that I laid out for Buck, and this may be too spy novel for all of you, but is it possible that Iranian leaders could signal that they're okay with America seizing the uranium because it makes them appear less weak in the country than if they just hand over the nuclear weapons to Iran? I think that's a really interesting question about how this plays out. I also believe President Trump has a cinematic worldview. He has a worldview that understands how to cut through the noise and create signature event stories. And I think that this kind of raid could be for President Trump the kind of capstone raid that captures the nation's attention and that could captivate him and lead him to sign off on a raid like this. Now, the reason why I'm tying this in with what Caroline Levitt said is the big question right now is who has power in Iran and who is able to deliver on the promises that they make you notice? Last week, President Trump said, well, they gave us a gift, and he wouldn't say what the gift was. It appears that the gift was from these Iranian leaders. We're going to allow a certain number of boats to safely traverse the Strait of Hormuz. To give you a sign of who is actually making decisions right now. To what extent is right now there a power struggle that is going on inside of the country? And to what extent is, on the flip side, there a power dynamic that has coalesced where someone is in power that we feel like we can work with on the side of the United States? I think all of this is integral to getting some form of resolution here. And I think it's going to determine whether or not we are going to be able to. To get some form of. Of successful resolution here. What I believe President Trump is likely to want is a signature achievement that can be seen as a victory here that would allow him to say, hey, we have finished all of our operations in Iran. This is the capstone signatory event that represents the success. Here is the tangible uranium. I thought Buck made A great point. After all of the disaster of pursuing WMDs in Iraq and not having them ever be there, what would the impact be of seizing the uranium and proving once and for all that Iran was in the process of actually trying to go out and, and gain these nuclear weapons? All of those things, I think, are significant as we are sort of contemplating where we are. We are just being joined right now in studio here by the head of the sba, Kelly Loeffler, part of the Trump administration. We're going to bring her in. Fingers crossed that this is going to be a successful interview. You are the very first person to be able to come into the studio. It's new. So when we come back, we will talk with the Trump administration's SBA head, Kelly Loeffler, also a friend of mine. And I think you guys are gonna enjoy the conversation that we have. But I wanna tell you, she just walked in and she can look out the windows right now and see we got a bunch of brand new trees all over here because we just moved in and Fast Growing Trees. America's largest, most trusted online nursery. This is how more people are buying their trees and plants these days. Like so many other items, you can purchase them online, get them delivered. 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Clay Travis (14:31)

Welcome back in. Appreciate all of you hanging out with us. We are joined by former senator, incredible success story in business and current member of the Trump administration, Kelly Loeffler. She's the head of the sba. And let's look, we're going to have you here for a couple of segments. Welcome in. I'm glad to have you in studio here.

Kelly Loeffler (14:49)

It's a great honor to be with you.

Clay Travis (14:50)

Yeah. So we're, we're testing it out so we'll see how it goes. Hopefully this is going to work well going forward. You can watch it on video and let us know what you think. Let's start here. Small business is the backbone of American life in general. The number of small business owners that are listening to us right now, I bet is massive. What are you seeing as you travel the nation? Because I think you've been to the vast majority of states since you took over about the overall economic climate. And what do you anticipate the impact of the big beautiful bill being for so many small businesses out there?

Kelly Loeffler (15:25)

Well, you're exactly right, Clay. Small business is the backbone of our nation and President Trump knows that. He always says small business is big business. The American people know that. They have put their trust in small businesses as an institution. It is ranked number one in America for trust, far above any other so called institution, be it Congress or education or media, because small businesses get it done. And I want to thank every single small business owner out there, every small business employee because they make our main streets work. And thanks to President Trump, Trump's economic agenda, it's coming back because look what we've done. We've passed massive tax cuts that now small businesses have permanent expensing, 100% expensing to continue to invest and hire. I have traveled across the country probably 15, 17 states this year, already about 40 states last year. What I see is a tremendous economic boom happening in the manufacturing space. And why is that so positive? Because manufacturing jobs are good paying jobs. They make our main street strong main streets coming back. And then we have massive deregulation because President Trump knows and I know from growing up in a small family business that that crushes small business owners when they're dealing with paperwork, bureaucracy and red tape.

Clay Travis (16:43)

Let me ask you about one of those particular topics you just mentioned, because I think people maybe don't understand how it can impact them 100% expensing small business people who have to purchase expensive property to do their jobs understand that. Why does that matter so much, though, for business in general in terms of accelerating growth?

Kelly Loeffler (17:04)

Yeah. So, first of all, the working family tax cut was really powerful for small business, not just in making the tax rate permanent, the 20% pass through the 199 deduction, but 179expensing bonus depreciation, expansion, 100expensing on R and D manufacturing, made in America. All these things are critical because that lets a business owner write off 100% of the cost of a capital expenditure or R and D in year one. It frees up tremendous cash flow because if you make an investment in a piece of equipment, well, now you've got to hire a worker to help you with that equipment, but you have all your capital tied up in the equipment. Now they can buy the piece of equipment, have 100% write down against their income taxes, have. And hire multiple workers. And so it's really generative in terms of economic growth.

Clay Travis (17:58)

You met with the vice President's fraud task force just recently, I think on Friday. How much? One of the things that I love about business is ultimately, you got to either make money or you lose money, and everybody has to make payroll. You've been through this. A lot of our listeners out there have been through it. When you see the amount of fraud and the reports that are coming out, how frustrating is it? How much do you think the Trump administration, in this particular fraud task force, can do to address it?

Kelly Loeffler (18:27)

Well, first of all, we're going to do a lot. It's incredibly frustrating to know that up to a half a trillion dollars a year is wasted According to the GAO's own reports on the federal government. Now, what this administration is doing, and I'm grateful that Vice President Vance is leading this task force because he's a doer. He's come from the private sector, like many of us in the Cabinet, who understand a small business could never run with this mismanagement, with this fraud and abuse of programs. At the SBA, we found $200 billion of COVID era fraud that the Biden administration either tried to forgive or sweep it under the rug, thinking no one would ever come after and look for it. Well, this is happening at hhs, usda, hud, and we are going to have results. And we know that taxpayers deserve to see people in bars, behind bars, and to have deterrence, not just to have people go to jail, but to make sure that this never happens again because we could substantially cut our debt and deficit by attacking simply the fraud and abuse in government.

Clay Travis (19:30)

Let me tell people out there listening, if you have any questions you'd like for me to ask Kelly Lefler here in studio with me at Clay Travis on Twitter right now. I'll look at those during the commercial break and we'll hit more of this with her. But I want to tell you right now, if you're trying to save a Bundle up to $1,000 over the course of a year, you can get hooked up right now. £250 from your cell phones. Make the switch to pure talk today. That's £250. Make the switch to Pure Talk today. My kids, my senior in high school, my freshman in high school, they both have cell phones, Pure Talk cell phones. I use those cell phones to stay in touch with them. I trust them for my own family. You can trust them for yours. How much difference could a thousand dollars make to to you by the end of the year? A tremendous amount of difference when you're getting all those Christmas presents and when you're paying all your bills and trying to make sure your family hits the budget, save a bundle now. You can keep your same phone number and your same phone. £2 50 Save a ton with Pure Talk, a company that expresses and appreciates and supports your own values. That's £250, say Clay and Buck 4 from your cell phone today. £2 50 welcome back in Clay Travis, Buck Sexton Show. Tons of questions rolling in. And I'm going to get to some of these in a moment. But let's start. We were just talking about fraud and that is one of the primary tenets of a lot of these questions coming in. Particularly we're talking with Small Business Administration head Kelly Loeffler from the Trump administration, from the Trump cabinet. She is in studio here with me. Buck is traveling to do meetings with advice with advertisers and supporters of the show right now. He'll be back with me tomorrow at the top of the show. So much questions about blue state fraud in particular and what we are seeing in California and the fact that there is now this fraud panel that is being chaired by the vice president designed to crack down on it. Are you even in your position? You've been to roughly 40 states now to work on small business issues. Are even you stunned by the degree of fraud that we are seeing in blue states from California to Minnesota and Beyond.

Kelly Loeffler (21:47)

Well, Clay, I think what's stunning about it is the fact that the prior administration, the Biden administration, not only didn't do anything about what is potentially a quarter trillion or a half trillion dollars worth of fraud annually in the federal budget, but that they, they refused to do anything and they helped promote it through their liberal socialist programs. And that is nowhere more apparent than in blue states. So take two of the states that we've looked at at the sba. When the Somali fraud rings were exposed, you know, last year, we immediately went to work, looked at IT, found about 7,000 borrowers in Minneapolis and Minnesota that we suspended. We went over and looked at California. We suspended 111,000 borrowers in the state that had committed upwards of $10 billion worth of fraud that the Biden administration tried to overlook. This is hard earned taxpayer dollars that have been stolen from the American people. We now have an administration, thanks to President Trump and Vice President Vance, that has the will and the ability and is putting the resources behind prosecution and then going forward, stopping it from happening again. We've made a lot of changes at the sba. One of them is banning foreign nationals from getting SBA loans. That has never been done in the history of the sba. Now LA county wants to sue me for doing that because they're completely America last. But this is what it means to stand up and put America first, is to make sure Americans are put to the front of the line and that their assets are protected, especially small business owners.

Clay Travis (23:24)

This is an interesting question. I don't know if you've ever dealt with this particular angle before, but the SBA relationship to fema. The question is from one of our listeners, Dello, and he's saying that during his time running his small business out of a home, that a lot of times damages to homes and FEMA interactions and everything else, small businesses are frequently run out of homes and then so home damages become significant. How does that interplay work?

Kelly Loeffler (23:52)

Yeah, you're exactly right. And you know, FEMA is generally a program that is directed at the state's response. They do have a limited individual benefit response. The SBA is different in that we run the largest government backed lending for disaster recovery. So we can lend up to a couple million dollars in a disaster for that individual to come back. Low cost, low interest rate, about three, three and a half percent, 30 year loans for disaster recovery. That's something that we attempted to do out in California, for example, after the wildfires over a year ago. But of course the bureaucrats and Newsom And Bass can't get out of the way. And so they have about 15,000 residents that have lost their homes and can't rebuild.

Clay Travis (24:40)

Another question from American Rufus. A huge percentage of small businesses are sole proprietors. That is one and two man Oper, how much can you focus that is the smallest of small businesses. How do you grow those into bigger business? And by the way, what actually qualifies as small business? Because the goal obviously is to grow small business into big businesses, as many people have done. What's that universe like?

Kelly Loeffler (25:05)

Yeah. So small business, the reason it makes up 99% of all businesses because they can be almost medium size. We haven't really changed the definition for a long time, but it's 500 employees and fewer for non manufacturing businesses. And for manufacturers you can have up to 1500 employees, which is why 98% of all of America's manufacturers are small business. And about a $5 million top line. But could go up much more for manufacturers, that's for sure. But, but look, small business lending in under President Trump has hit all time records. We put out over 100 billion last year at the SBA for the first time ever.

Clay Travis (25:42)

We.

Kelly Loeffler (25:42)

These are zero subsidy. So I will tell you that we are the most free enterprise government agency in the federal government because there's, they're not backed by taxpayer money. The banks pay a guarantee fee to cover the cost and we put out 60% of our lending to businesses of five or fewer employees. So that is a huge and growing piece because of AI. We're going to see solopreneur companies really boom thanks to the efficiencies of AI. So I, I think it's growing.

Clay Travis (26:11)

How optimistic are you about AI's impact? You just said the vast majority of businesses in America are small businesses. What are you seeing as you've been to 40 some odd states about the ability of these companies to become more efficient with AI? And how optimistic are you about what that's going to do to help grow and increase profitability?

Kelly Loeffler (26:32)

Well, I'm incredibly optimistic now that President Trump is ensuring that America leads in AI. Just imagine if China were leading in AI. This is table stakes for us to compete internationally and defend our national security. So you think about the automation coming into manufacturing. We're going to be able to reshore whole industries. And I've seen it firsthand. I've walked factories with 60 people in them that are reshoring businesses that we had lost to China years ago because of advanced manufacturing, robotic welding, AI. And so I'm incredibly optimistic that this is not only a force multiplier, but this is going to be an increasingly important competitive weapon to become the dominant manufacturing superpower in the world. A title which we gave away 30 years ago and 40 years ago. And the President in 1987, before he was President Trump, he was private citizen. Donald J. Trump was running full page ads saying our policies can be fixed with a by someone that has a backbone and that turns out to be him. He was prescient. He's been completely convicted that we must have manufacturing in America. That's what he was fighting for 40 years ago and now we're finally getting

Clay Travis (27:47)

it back, Mary writes. And I'm sure this is something you think about all the time. And by the way, thank you to all the questions that are rolling in here as we're talking to a Small Business Administration head, Kelly Leffler here in the Nashville Studio. Thank you for all you're doing and also what the administration and the cabinet are doing. How much time can you spend trying to get good messaging out when so much from the legacy media is focused on the negative side associated with everything?

Kelly Loeffler (28:15)

It's such a great question and thank you for that. Because look, the American people know they're being lied to by the legacy media. They absolutely know it. And that is why I spend most of my time on the road. I have spent my entire 14 months on the job traveling around, meeting with hardworking Americans, doing local media, talking to folks through great podcasts like this, because we have to get the story out. We have such a capable cabinet. We have the best communicator in the world as the president. And I'm excited. I've been out on the road with Vice President Vance as well, so frequently, and he's going to be continuing to get out more. So we are just getting started on the messaging. And I think her question's a really important one that we all take very much to heart. And by the way, this cabinet works so hard because we are so inspired by our president and the work that he's doing. And there's no better person to connect with the American people than him.

Clay Travis (29:16)

A lot of people out there involved in farming, listening to us right now, particularly in rural communities. I know there was just a big farming event that was directly involved with things that the SBA is trying to do to help there. What in particular can you say to people out there in the farming community about what you're trying to do and what the administration is working on?

Kelly Loeffler (29:37)

Well, Clay, I'm glad you asked. I'm from a five generation family farm, grew up working in the fields and shout out to my brother and nephew Brian and Colin, who are probably in the fields right now. I was honored to join the President and Secretary Brooke Rollins at the White House last Friday. And we've partnered a lot with USDA at the SBA because farmers are our original small businesses in America. And so the Trump administration has stood with the American farmer from day one to make sure that they have the ability to come back from this horrible green new scam that forced them to have diesel exhaust fluid pumped into their trucks and tractors and semis and so forth. We're rolling back those def requirements. The SBA came out with the grocery guarantee, which provides a 90% government guarantee on everything from farming to fishing to trucking to processing to make sure that our food supply is strengthened and that we start to bring down prices and then things like E15 to have year round. E15, which is so important to our heartland to produce crops that fuel our nation. The list goes on. Right? To repair. This is something that if you have a tractor, you could face thousands of dollars of downtime trying to get the implement into the equipment repair when you could fix it yourself. So this president, this epa, usda, sba, we are on the side of the American farmer like never before. And these are people who put it all on the line every day, literally seven days a week. No one works harder. And it's such a great honor to serve rural America.

Clay Travis (31:14)

A big part. We got a couple of questions about this. People who own small businesses, trying to pass it on to heirs, particularly farmers, the inheritance tax and how that can destroy a life's worth. You mentioned five generations. For you, what is the latest that the President and his team and you guys have been working on to try to allow people like you said, the vast majority of businesses, as defined by this, under 500 employees, by and large are small businesses. So families can keep those businesses in house.

Kelly Loeffler (31:41)

Well, this is, this is something that the Trump administration ended through the working families tax cut. I mean, this is really confiscation when you think about the onerous tax that. I mean, I watched my parents have to pay thousands of dollars when we were barely making ends meet just to have an insurance policy in case something happened, a life insurance that happened to some, to them they would have to sell the farm if they didn't have life insurance to cover the proceeds of the tax owed in the case of death. I mean, this is truly transformative for farming, for small businesses to be able to ensure those family, those generational businesses that make our Main streets work, whether you're a rural or urban community. And so this is just another example. But this is what Democrats do. They tax and spend and confiscate hardworking Americans, the sweat of their brow, equity in their businesses. And so that's, that's what the president and Republicans in Congress did, was to protect small business by ending the death tax.

Clay Travis (32:43)

Last question for you. And this has been awesome. Appreciate you coming out to the studio here. You're a big time sports fan. We're in the middle of March Madness Final Fours being set left and right. Also, the Olympics came out and said, hey, men who are identifying as women are no longer going to be able to compete. So two part for you. How's the bracket looking and how are you enjoying March Madness transpiring? And this is direct result, I think of the president's statements on men and women's sports that the Olympics has now come out and said no more with this. Your thoughts on both?

Kelly Loeffler (33:20)

Well, first of all, I was the first US senator in history to introduce protecting girls sports in 2020 on the Senate floor. It's a common sense idea that got a lot of pushback and saying it wasn't a problem. Well, clearly it was a problem. You know, six years later, we know it was devastating. Finally the Olympic Committee has come around to that. But look, I'm still on a high from the team USA Hockey win. So, you know, I think we have millions of new hockey fans in the country. So I'm really glad they did that. But unfortunately there's so much work to do in this country still on protecting girls sports. And I'm so glad there's fighters up with me in Washington doing it. And then the other thing, the bracket, I mean, I'm in a line. I graduated from there back in the 1900s. And when I was a freshman there, we went to the Final Four. We had player Kendall, Kendall Gill. He ended up in the NBA. I'm, I'm thrilled with how it's looking and I just hope for my nephew that Illini the ally and I come out on top.

Clay Travis (34:17)

So it's been a good season. They'll be playing UConn after the miracle shot they hit to beat Duke. And then on the other side, you've got Arizona going up against Michigan. We appreciate the time. I know how busy you are running all over the place. And thank you guys out there for the questions. We'll be back close out the show next. But I want to tell you cozy Earth makes some of the world's softest products starting with sheets and bedding. Hands down softest sheets you may ever experience. Constructed to stay that way for years. Cozy Earth got hooked up. We love all the brands at Cozy Earth. They back everything with 100 night sleep trial 10 year warranty. You can try it completely risk free. Not too early to think about Mother's day gift five weeks away. Cozy Earth perfect. If you're looking for something snuggly in fact Cozy Earth robe, something she'll use and appreciate every single day, go to cozyearth.com use my name Clay as the promo code for 20% off. That's cozyearth.com promo code Clay for 20 off. And if you see the post purchase survey you can mention you heard about Cozy Earth here. That's Cozy Earth C o z y earth.com promo code clay20 do not be an unk follow clay and buck on YouTube, subscribe, like and share and keep the conversation going. Welcome back in Clay Travis Buck Sexton Show. Appreciate all of you. We've got a bunch of people who are, let's see, reacting to a variety of different subjects throughout the course of the program. Let me hit as many of these as I can and I believe. See this is really funny. Podcast listener Vince from Houston. I was telling my wife about this, the no Kings protest. They had a no Kings protest. This is real in London. Cut C Listen, no Kings protest was such a joke. They even had one in England, which I actually have a king. So none of this makes sense. Liberalism is just but nothing but a mental disease. No doubt. But I think they changed it to not no Tyrants day in no Tyrants protest in London because even they were aware of how ridiculous it otherwise would sound. Darryl in Colorado says that the difference in having the ICE agents thanks to Linda in Arizona helping to make that happen says that his wife's transition and travel has been much better date. My wife just flew back from Atlanta on Friday and she says that it was a much smoother than when she went in on Monday. So it seems like it's working out great. Ricky in Kentucky has a joke for all of you in particular, I imagine this is going to be at my expense. This is Talk Back E Listen. Hey Clay, Travis, you know all the golf courses in Tennessee only have 14 holes cause you guys never play the final four. I am so glad we don't have to look at that pukey looking orange color anymore. Yeah, this is a tough one. Three straight Elite eight losses for my beloved Tennessee Volunteers So, just FYI, thank you for that call. I haven't actually heard that joke before. Let's see. Mel in Montclair, New Jersey, F. Let's see what he has to say.

Listener (37:42)

I just started listening to your show and is wondering if there's some way that I have difficulty distinguishing who's talking, whether it's Clay or Buck. So is there some way you can help me to let me know who's talking when they're talking so I can understand each individual's point of view? Thank you very much.

Clay Travis (38:06)

I'm the one who makes all the good arguments. Buck is the one who makes all the bad arguments. So if you're listening and you think to yourself, oh, that's a really good take, that's me. If you're listening and you're saying, I have no idea what that guy's talking about, that's Buck. I hope that helps out. In all honesty, we'll have videos soon and you'll be able to see us, but I do know that we sound somewhat similar, so hopefully over time, you'll start to be able to tell the difference. I think most of you have five years in. Welcome to the club, though. Thanks for hanging with us.

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